Hong Kong remains the most expensive place in the world to rent a luxury apartment, according to new data from ECA International, a global consulting firm that releases the figures for companies sending employees to work abroad.

An average unfurnished, high-end three-bedroom apartment in a popular part of Hong Kong costs an average of $11,440 per month. New York City ranked fourth on the list, with the average rent for a similar apartment costing $9,200 per month.

Rents for such apartments in Hong Kong have actually fallen slightly; in 2013 the average was $11,549, and in 2012 it was $11,813.

"With a high population density and a consistently limited supply of property, average rents in the territory have long been significantly more expensive than other high-profile cities," ECA International wrote in a release.

Rents rose the most year-over-year in Caracas, Dubai, Sao Paulo, Nairobi, and Jakarta, while they fell the most in Dakar, Barcelona, Gaborone, Madrid, and Ho Chi Minh City, respectively.